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7 June 2024 | 9 replies
Also, consider the lenders lending options as some will require interest only monthly payments for the period that you have he loan and others will set you up with a balloon payment.
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8 June 2024 | 24 replies
Just as a reminder in addition to the interest rate, amortization schedule and fixed period of the loan, inquire about: 1) Prepayment Penalties (In case you want to refinance in a few years), 2) Possibility of Rehab Funding, 3) Reserve Requirements, 4) Personal Guarantees, 4) Rate Adjustments (i.e. at the 5 year mark) to understand other variables in the loan product that works best for your project.
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7 June 2024 | 17 replies
If you ignore them, are you prepared to have them upset at you for an indefinite period of time?
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6 June 2024 | 7 replies
This is in Allentown, PA I was reading about the rent increases and from what I saw it cannot be raised more than 10% in 12-month period.
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5 June 2024 | 5 replies
Take a trial of all 3 and see which one works best for you.
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6 June 2024 | 1 reply
Standard contract contingencies may include an inspection period, financing contingency and appraisal contingency.4.
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6 June 2024 | 2 replies
They’ll pry want to know if it was a property tax sale where she gets a lien, if there’s a redemption period, a foreclosure auction, etc.
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6 June 2024 | 3 replies
just be cautious when it comes to using these. ensure you've got a plan to pay that balance back in a relatively quick fashion as most HELOC rates can fluctuate which could make the numbers suddenly not work. i've leveraged mine in instances where i'm doing a BRRR and i want the deposit for a private money loan. i'm not using it as my downpayment and leaving it out there for a long period of time.